{
    "type": "ETF",
    "ucits": true,
    "leverage": false,
    "derivatives": false,
    "swaps": false,
    "inverse": false,
    "replication_method": "physical",
    "complex_factors": [],
    "classification": "non-complex",
    "supporting_data": "The iShares iBonds Dec 2026 Term EUR Corp ETF is a physically replicated, UCITS-compliant ETF that tracks the Bloomberg MSCI December 2026 Maturity EUR Corporate ESG Screened Index. It uses physical replication (direct purchase of underlying securities) and does not employ leverage, inverse strategies, or synthetic replication via swaps or derivatives. The fund's primary risks are credit risk, interest rate risk, and liquidity risk, which are typical for fixed-income ETFs. The KIID and factsheet confirm that the fund uses optimizing techniques for tracking but does not rely on derivatives for core replication. The absence of leverage, inverse exposure, or complex underlying assets (e.g., contingent bonds, structured products) further supports the non-complex classification. The fund's risk profile (rated 3 out of 7) and straightforward investment objective align with non-complex characteristics under MiFID II.",
    "confidence": 95
}